GBPJPY still gives bearish sentiment$$$

10 Haz

Took a short yesterday that went according my analysis. After a retracement and doing further analysis my bias is still leaning heavily towards the downside. The monthly nor has the weekly high been breach to make a new higher high. Right now, i'm looking at a rejection on the 4hr and 1hr timeframes that looks to be hitting resistance inside of a fair value gap. My intentions is to dropdown into a lower time frame and look for an entry to short the market.

The Asian and London highs has been breached absorbing liquidity in the form of buystops. After a low or high is taken price usually runs up about 20-30 pips more before making a correction or trend reversal.

Everyone have a safe and productive trading week!!!

11 Haz

Not

NY high taken, Looking for a 20-30 pip liquidity sweep on 15 minute timeframe from high from NY high then looking for reversal.

11 Haz

Not

Market did exactly as I predicted. It went up 35 pips from NY high and then proceeded to accumulate in Asia. We are now in the London session and i'm looking for distribution to the downside.